What fiscal years are covered by the consolidated statements of operations, changes in member's equity, and cash flows included in the financial statements of Carvel's parent company, GoTo Systems?

According to Carvel's 2025 Franchise Disclosure Document, the audited financial statements of GoTo Systems, Carvel's parent company, include consolidated statements of operations, changes in member's equity, and cash flows for the fiscal years ended December 29, 2024, December 31, 2023, and December 25, 2022. This information is crucial for prospective franchisees as it provides a view into the financial performance of the parent company. GoTo Systems guarantees Carvel's obligations under the Franchise Agreement, so its financial health is directly relevant to the stability of the Carvel franchise system.

The inclusion of three years of financial statements allows potential Carvel franchisees to identify trends and assess the financial stability and performance of GoTo Systems over time. Reviewing these statements can help franchisees evaluate the risks associated with investing in a Carvel franchise, given that GoTo Systems is guaranteeing the obligations under the franchise agreement.

It is important to note that the financial statements of GoTo Foods are also included in the FDD, but these are for disclosure purposes only. GoTo Foods is not a party to the Franchise Agreement and does not guarantee Carvel's obligations. Therefore, while the GoTo Foods statements provide additional context, the GoTo Systems statements are more directly relevant to the financial security of a Carvel franchise.